Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading Down 10% – Time to Sell?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares fell 10% during mid-day trading on Monday . The stock traded as low as $18.92 and last traded at $18.79. 29,183,387 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 83,395,398 shares. The stock had previously closed at $20.88.

Direxion Daily Semiconductors Bull 3x Shares Price Performance

The stock has a 50-day simple moving average of $27.78 and a 200-day simple moving average of $30.87. The stock has a market cap of $5.37 billion, a P/E ratio of 29.74 and a beta of 3.96.

Institutional Investors Weigh In On Direxion Daily Semiconductors Bull 3x Shares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Simplex Trading LLC raised its holdings in Direxion Daily Semiconductors Bull 3x Shares by 30.8% during the 4th quarter. Simplex Trading LLC now owns 1,000,338 shares of the company’s stock worth $27,319,000 after purchasing an additional 235,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Direxion Daily Semiconductors Bull 3x Shares in the 4th quarter valued at about $27,180,000. TB Alternative Assets Ltd. lifted its stake in Direxion Daily Semiconductors Bull 3x Shares by 29.5% in the fourth quarter. TB Alternative Assets Ltd. now owns 622,886 shares of the company’s stock valued at $17,011,000 after buying an additional 141,941 shares during the period. CloudAlpha Capital Management Limited Hong Kong increased its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 116.3% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 383,010 shares of the company’s stock valued at $14,049,000 after acquiring an additional 205,910 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Direxion Daily Semiconductors Bull 3x Shares by 117,087.5% in the fourth quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $8,193,000 after purchasing an additional 299,744 shares during the period.

About Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.